Oil Tops $100, Diesel Hits Record Highs Amid Iran War Escalation The world's attention has been focused on the Middle East, where the ongoing conflict between the US and Iran has sent oil prices surging to unprecedented heights.
Crude oil benchmarks have broken through $100 per barrel, while diesel fuel prices have hit record highs in the US. Several factors are contributing to this price spike.
The Strait of Hormuz bottleneck has significantly slowed oil flows, exacerbating existing supply shortages.